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Friday, 22 August 14
INDIAN IRON ORE ROYALTY RISE NOT LIKELY TO HURT STEELMAKERS' MARGINS - FITCH
 Fitch Ratings does not expect an increase in India's iron ore royalty rates to have a major impact on the profitability of steel producers in the country. Under the proposal approved by the Indian government, the royalty rate on iron ore will be increased to 15% from 10%. The government has not yet said when the increase will be implemented.
The higher royalty rates will raise the input costs of Indian steel producers by USD 2-5 per tonne of steel produced, depending on the type and grade of iron ore used. Fitch expects iron ore mining companies in India, which largely supply domestic users, to be able to pass on the increase given tight supply domestically, raising the input costs for both integrated and non-integrated steel producers.
Fitch expects steel producers to be able to pass on their higher costs to consumers because of a likely improvement in steel demand in India. As a result, the higher royalty is unlikely to have a major impact on Indian steel producers' profit margins.
Fitch expects steel demand growth to start to improve from the second half of the fiscal year ending 31 March 2015 (FY15), supported by a pick-up in consumption following rising consumer sentiments and an expected improvement in economic growth. The improving consumer sentiment is reflected in passenger vehicle sales data compiled by the Society of Indian Automobile Manufacturers - sales volumes during June and July 2014 rose from a year earlier, compared with a 6% fall in FY14.
Steel demand in India was weak during FY14 with consumption rising by just 0.6% to 73.9 million tonnes, according to data from Joint Plant Committee, a government body that collects data on the iron and steel industry. This was due to slow growth in the key steel consuming industries of automobiles, infrastructure, construction and engineering.
Iron ore exporters, who already pay high export duties on their shipments, will face slimmer profit margins following the increase in royalty. Iron ore exports (other than pellets) already attract export duty of 30%. India largely exports lower grade iron ore fines. The additional costs while global iron ore prices remain weak will significantly impact the competitiveness of iron ore exports from the country.
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Wednesday, 30 July 14
CAPES SEEMED TO BE STRANDED AT THE SAME LEVELS; PANAMAXES MANAGED TO SLIGHTLY REVIVE - INTERMODAL
COALspot.com: The Dry Bulk market took a breath this past week, as both Panamaxes and Supras started to see a small influx of activity, which was j ...
Tuesday, 29 July 14
TOTAL SELLS ITS SOUTH AFRICAN COAL MINING ASSETS TO EXXARO
Total has signed an agreement with Exxaro Resources Ltd for the sale of its 100% stake in Total Coal South Africa (TCSA), its coal-producing affili ...
Tuesday, 29 July 14
GENCO: DRY BULK SHIPPING VALUATIONS NO LONGER ANCHORED TO DISCOUNTED CASH FLOW METHOD - WEIL
KNOWLEDGE TO ELEVATE
Discounted cash flow analysis is a mainstay among the valuation methodologies used by restructuring professionals and bank ...
Tuesday, 29 July 14
SHIP OWNERS' DEMAND OF NEW VESSELS DENTED AS A RESULT OF LOWER FREIGHT RATES - NIKOS ROUSSANOGLOU, HELLENIC SHIPPING NEWS
The sharp downward direction of dry bulk freight rates has had a negative impact on investors’ secondhand buying appetite that wait to see th ...
Monday, 28 July 14
Q3' 14, SUB-BIT FOB INDONESIA COAL SWAP GAINED $ 0.08 DAY ON DAY AND $ 0.68 WEEK ON WEEK
COALspot.com: Indonesian coal swaps for average Q3’ 2014 increased by just US$ 0.08 day on day and US$ 0.68 week on week. The swap was lost U ...
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- Siam City Cement - Thailand
- Ministry of Finance - Indonesia
- Malabar Cements Ltd - India
- Mintek Dendrill Indonesia
- Straits Asia Resources Limited - Singapore
- Kohat Cement Company Ltd. - Pakistan
- Orica Australia Pty. Ltd.
- Agrawal Coal Company - India
- Bahari Cakrawala Sebuku - Indonesia
- SN Aboitiz Power Inc, Philippines
- Ceylon Electricity Board - Sri Lanka
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- TNB Fuel Sdn Bhd - Malaysia
- Commonwealth Bank - Australia
- Energy Development Corp, Philippines
- Aboitiz Power Corporation - Philippines
- McConnell Dowell - Australia
- Port Waratah Coal Services - Australia
- SMG Consultants - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Jorong Barutama Greston.PT - Indonesia
- Eastern Coal Council - USA
- Australian Coal Association
- Riau Bara Harum - Indonesia
- Australian Commodity Traders Exchange
- MS Steel International - UAE
- Kideco Jaya Agung - Indonesia
- Wood Mackenzie - Singapore
- Directorate General of MIneral and Coal - Indonesia
- The Treasury - Australian Government
- Bhoruka Overseas - Indonesia
- Deloitte Consulting - India
- Neyveli Lignite Corporation Ltd, - India
- Altura Mining Limited, Indonesia
- Global Green Power PLC Corporation, Philippines
- IHS Mccloskey Coal Group - USA
- Makarim & Taira - Indonesia
- Independent Power Producers Association of India
- The State Trading Corporation of India Ltd
- Larsen & Toubro Limited - India
- LBH Netherlands Bv - Netherlands
- The University of Queensland
- Pendopo Energi Batubara - Indonesia
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Merrill Lynch Commodities Europe
- Goldman Sachs - Singapore
- PTC India Limited - India
- Sree Jayajothi Cements Limited - India
- Intertek Mineral Services - Indonesia
- Thai Mozambique Logistica
- Lanco Infratech Ltd - India
- Gujarat Mineral Development Corp Ltd - India
- Oldendorff Carriers - Singapore
- Samtan Co., Ltd - South Korea
- CNBM International Corporation - China
- Singapore Mercantile Exchange
- Interocean Group of Companies - India
- Kapuas Tunggal Persada - Indonesia
- Salva Resources Pvt Ltd - India
- Krishnapatnam Port Company Ltd. - India
- GVK Power & Infra Limited - India
- Tata Chemicals Ltd - India
- New Zealand Coal & Carbon
- Cigading International Bulk Terminal - Indonesia
- Vizag Seaport Private Limited - India
- PNOC Exploration Corporation - Philippines
- CIMB Investment Bank - Malaysia
- Standard Chartered Bank - UAE
- Pipit Mutiara Jaya. PT, Indonesia
- Indian Oil Corporation Limited
- Ambuja Cements Ltd - India
- Formosa Plastics Group - Taiwan
- Planning Commission, India
- Eastern Energy - Thailand
- Karaikal Port Pvt Ltd - India
- Timah Investasi Mineral - Indoneisa
- Trasteel International SA, Italy
- Coal and Oil Company - UAE
- Edison Trading Spa - Italy
- Star Paper Mills Limited - India
- Renaissance Capital - South Africa
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Maharashtra Electricity Regulatory Commission - India
- Sinarmas Energy and Mining - Indonesia
- European Bulk Services B.V. - Netherlands
- South Luzon Thermal Energy Corporation
- GAC Shipping (India) Pvt Ltd
- International Coal Ventures Pvt Ltd - India
- Miang Besar Coal Terminal - Indonesia
- Sakthi Sugars Limited - India
- Essar Steel Hazira Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Indian Energy Exchange, India
- Kepco SPC Power Corporation, Philippines
- Mjunction Services Limited - India
- Heidelberg Cement - Germany
- PowerSource Philippines DevCo
- Romanian Commodities Exchange
- Alfred C Toepfer International GmbH - Germany
- San Jose City I Power Corp, Philippines
- Bukit Makmur.PT - Indonesia
- Power Finance Corporation Ltd., India
- Globalindo Alam Lestari - Indonesia
- ICICI Bank Limited - India
- Price Waterhouse Coopers - Russia
- AsiaOL BioFuels Corp., Philippines
- Semirara Mining Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Attock Cement Pakistan Limited
- Kartika Selabumi Mining - Indonesia
- Manunggal Multi Energi - Indonesia
- Medco Energi Mining Internasional
- Mercuria Energy - Indonesia
- Kumho Petrochemical, South Korea
- Electricity Generating Authority of Thailand
- Sindya Power Generating Company Private Ltd
- Bangladesh Power Developement Board
- Savvy Resources Ltd - HongKong
- Simpson Spence & Young - Indonesia
- London Commodity Brokers - England
- Kalimantan Lumbung Energi - Indonesia
- Thiess Contractors Indonesia
- Posco Energy - South Korea
- Offshore Bulk Terminal Pte Ltd, Singapore
- Baramulti Group, Indonesia
- Africa Commodities Group - South Africa
- Therma Luzon, Inc, Philippines
- Latin American Coal - Colombia
- Borneo Indobara - Indonesia
- ASAPP Information Group - India
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Ministry of Mines - Canada
- White Energy Company Limited
- Global Coal Blending Company Limited - Australia
- Siam City Cement PLC, Thailand
- Coalindo Energy - Indonesia
- Tamil Nadu electricity Board
- Uttam Galva Steels Limited - India
- Dalmia Cement Bharat India
- Bulk Trading Sa - Switzerland
- Carbofer General Trading SA - India
- Bharathi Cement Corporation - India
- Indika Energy - Indonesia
- VISA Power Limited - India
- Parliament of New Zealand
- Marubeni Corporation - India
- SMC Global Power, Philippines
- Videocon Industries ltd - India
- Billiton Holdings Pty Ltd - Australia
- Chettinad Cement Corporation Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Sojitz Corporation - Japan
- Meenaskhi Energy Private Limited - India
- Indonesian Coal Mining Association
- Georgia Ports Authority, United States
- Sarangani Energy Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Ministry of Transport, Egypt
- Barasentosa Lestari - Indonesia
- Banpu Public Company Limited - Thailand
- Anglo American - United Kingdom
- Binh Thuan Hamico - Vietnam
- TeaM Sual Corporation - Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Grasim Industreis Ltd - India
- Xindia Steels Limited - India
- Energy Link Ltd, New Zealand
- Indogreen Group - Indonesia
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Economic Council, Georgia
- Global Business Power Corporation, Philippines
- Metalloyd Limited - United Kingdom
- IEA Clean Coal Centre - UK
- Asmin Koalindo Tuhup - Indonesia
- Mercator Lines Limited - India
- Toyota Tsusho Corporation, Japan
- Gujarat Electricity Regulatory Commission - India
- GN Power Mariveles Coal Plant, Philippines
- Bhushan Steel Limited - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Central Electricity Authority - India
- Bukit Baiduri Energy - Indonesia
- Indo Tambangraya Megah - Indonesia
- Meralco Power Generation, Philippines
- Orica Mining Services - Indonesia
- Ind-Barath Power Infra Limited - India
- Coastal Gujarat Power Limited - India
- Central Java Power - Indonesia
- Wilmar Investment Holdings
- Jaiprakash Power Ventures ltd
- Bukit Asam (Persero) Tbk - Indonesia
- Gujarat Sidhee Cement - India
- Iligan Light & Power Inc, Philippines
- Karbindo Abesyapradhi - Indoneisa
- PetroVietnam Power Coal Import and Supply Company
- Sical Logistics Limited - India
- India Bulls Power Limited - India
- Kobexindo Tractors - Indoneisa
- Directorate Of Revenue Intelligence - India
- Vedanta Resources Plc - India
- Rashtriya Ispat Nigam Limited - India
- Jindal Steel & Power Ltd - India
- Maheswari Brothers Coal Limited - India
- OPG Power Generation Pvt Ltd - India
- Parry Sugars Refinery, India
- Chamber of Mines of South Africa
- Holcim Trading Pte Ltd - Singapore
- Minerals Council of Australia
- Cement Manufacturers Association - India
- GMR Energy Limited - India
- Petron Corporation, Philippines
- Aditya Birla Group - India
- Antam Resourcindo - Indonesia
- Kaltim Prima Coal - Indonesia
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